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Are the Netherlands' gold reserves real? MPs want answers

Wednesday 28 November 2012

Questions have been asked in parliament about the location and value of the country's gold reserves, most of which is said to be in foreign vaults, news agency ANP reports on Wednesday.

The Netherlands is said to have 612 tonnes of gold, with a value of some €24bn. Just 10% of it is held at the central bank headquarters in Amsterdam. The rest is in bank vaults in the US, Canada and Britain.

Socialist and Christian Democrat MPs are now asking if it is sensible to keep the gold abroad and want to know how pure the gold bars actually are.

The questions follow a decision by Germany's Bundesbank to carry out a formal inspection of its gold reserves, most of which is being held in other countries.

The gold, a central bank investment, is the 'last ditch reserve' at times of great crisis, ANP said.


A wise move? Have your say using the comment form below.

© DutchNews.nl



 

Readers' Comments

In October 2009, China received a shipment of gold bars from the United States Department of the Treasury Bullion Depository in Fort Knox. Chinese officials were shocked to learn that the bars were fake. The gold shipment contained a tungsten core with a thin coating of real gold. These tested gold bars originated in the US and had been stored in Fort Knox for years.

By Charles | 28 November 2012 3:13 PM

The same question was asked of the federal reserve, the answer was, 'what gold'. We are all living on funny money? On the other hand, China and Russia are buying as much gold as they can get their hands on, I guess they know something that we don't?

By Highlander | 28 November 2012 3:48 PM

Good luck with that!! Everyone knows the US banks sold the gold years ago and their vaults are empty. The German inspection will initiate a big disaster.

By sam | 28 November 2012 3:51 PM

Success...Should have taken that fishing trip when you had the chance. At least the US & UK have integrity and can be trusted to deliver in full.

By Dr Ponzi | 28 November 2012 4:17 PM

How much dies the DNB have to pay to store its gold abroad. Bet it's not for free.

By Disgusted in Amsterdam | 28 November 2012 4:22 PM

If you don't hold the physical gold you don't own it.

By Mr. Jonz | 28 November 2012 6:26 PM

Fiat currencies are collapsing...

'Where's my gold?!'

http://www.youtube.com/watch?feature=player_embedded&v=hkC9gUh2Yck#!

By Lewis | 28 November 2012 6:55 PM

I think everyone should inspect their gold at the same time...otherwise they'll show the same gold to everyone in turn.

By fkek | 28 November 2012 7:03 PM

Fiat $$ in Netherlands and US, yet another violation of our rights. The gov’t constantly violates our rights.

They violate the 1st Amendment by caging protesters and banning books like "America Deceived II".

They violate the 4th and 5th Amendment by allowing TSA to grope you.

They violate the entire Constitution by starting undeclared wars.

Impeach Obama.

Last link of "America Deceived II" before it is completely banned:

http://www.amazon.com/America-Deceived-II-Possession-interrogation/dp/145025

By Gregg | 28 November 2012 7:10 PM

Invest in gold as a security deposit in case of a catastrophic crisis, like war etc...
... and do not keep it in your grounds. wise!

By Chan Chur | 28 November 2012 7:53 PM

'Smacks of Fort Knox & the Fed reserve..
no audit!

No mention here of why Dutch gold is in foreign countries in the first place, investment & no problem getting it back...?

Why not use it to bail Greece? :P

By The visitor | 28 November 2012 8:59 PM

If you don't hold the physical gold you don't own it.

By Mr. Jonz | 28 November 2012 9:23 PM

Repatriate ALL the goldreserves the
Netherlands have abroad.
But first check the bars if they are 100%
real gold and not Tungsten filled.
Do it quickly before all the Dutch will
get is worthless paper ,
promissary-notes or other

By Robert | 28 November 2012 10:12 PM

Goodness me, there must be gold fever on these boards today.

Your currency is not collapsing, people – a loaf of bread can still be bought for about a euro.

By Slim Jim | 28 November 2012 11:39 PM

These comments are hilarious! It's 2012 people, gold is just another physical asset these days not a currency platform...And you can't earn interest on gold sitting in a vault.

By educated | 29 November 2012 7:19 AM

I think any reserve has to be properly accounted and audited on a yearly basis so any mischief will be uncovered.

By ufo | 29 November 2012 8:11 AM

aaaaaands it gone. can anyone say Tungsen. save yourselves and get your own gold, acutally physical silver bullion would be a beter option for most of us. it is so easy to get this PM for now. look for 1 oz silver mapel leaf, silver eagle, austrian philiharmonic, koala bears , kookaburra, china panda , fiji tuku, wildlife series from canada, lunar series , ect.... get them now before the Dutch and German goverments call the FED's bluff and ask for delivery of there Gold that does not exsist

By jock | 29 November 2012 11:44 AM

What is the worth of gold?It's usefull in electronics, but that is all. As a basis for currency it's even more arbitrary than a bushel of grain. You can at least eat the grain.

By Martijn | 29 November 2012 12:10 PM

and who paid for the gold. yes the taxpayer so the taxpayer owns the gold and the gold should be melted into gold coins and given to the people living in holland

By Paul | 29 November 2012 4:18 PM

Maybe it's being hidden in Mountain View Arkansas, where there's a bank for every 53 people...with a city population of 3000...not far from the CIA (Steven T. Huff) Pensmore mansion.
Either way, it's gone.

By flek | 29 November 2012 4:56 PM

@Educated, @SlimJim: Thank you. The U.S. Left the Gold system many years ago. The U.S. Stock market is frequently more than %50 owned by foreign countries. A paper contract system is worth as much as the reputation and trustworthiness of that system, and the legal laws to back it up. In the Middle Eastern Hawala system, there is no paper, only a handshake, but the broker would not be in business very long if he were not honest and reliable. Both the U.S. and NL have the most excellent legal protections for finances. There will always be supply and demand and a legal currency system, but just in case, I am storing some barrels of Herring (nieuw?) in my basement.

By NLbicycleVisitor | 29 November 2012 9:19 PM

Martijn, it always fun to see the sheeple follow their goverment blindly and belive that the euro is money. your arguement is just silly. What is the worth of a euro? you cant even eat it. Gold and Silver are money, been that way for 1000's of years. In 100years from now what will hold more value? 1oz of Gold of 1300 euros? Beter yer, 1oz of silver or 30euro ? Paper lovers are going to see there savings vanish. aaaaaaandds is gone. Every paper currency will return to intrinsic value of zero

By jock | 30 November 2012 12:22 AM

 
 
 
 
 
 
 
 
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